Option Agreement Sample With Retainer
Description
How to fill out Option Agreement?
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FAQ
A retainership agreement must cover the following: Particulars of the parties. Duration/term of the agreement. Detailed description of the work required to be done/services to be rendered. The 'retainer' i.e. the money to be paid. Terms of payment such as timeframe, mode etc.
Retainers are structured agreements in which the client agrees to pay a specific amount of money to a business ? usually monthly ? and, in return, receives a set of services during that same time period.
Retainership is a type of retainer paid by companies and firms as an alternative to long-term contracts. A retainership fee, also known as a retainer for short, is the fee charged by legal professionals that "retains" them to act on your behalf at any time during the year.
A retainer agreement is a contract between a client and a professional who requires an upfront payment applied to future work. A retainer can be set up as a one-time payment or for a recurring period. The agreement will detail compensation, hours, contingencies, and any other terms for the services provided.
To summarize what is a retainer agreement, it can be structured in several different ways: Client pays a set amount each month to access a certain amount of time. ... Client pays a set amount each month for a specific set of deliverables. ... Client pays simply to have access to the freelancer.